Barclays Cuts Lear (NYSE:LEA) Price Target to $140.00

Lear (NYSE:LEA) had its price objective reduced by stock analysts at Barclays from $150.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. Barclays‘s price objective points to a potential upside of 33.50% from the company’s previous close.

LEA has been the subject of a number of other research reports. Bank of America decreased their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday. Citigroup cut their price target on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Evercore ISI cut their price target on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Finally, UBS Group dropped their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and an average target price of $145.64.

Lear Stock Up 0.3 %

Lear stock opened at $104.87 on Tuesday. The company has a 50-day simple moving average of $109.93 and a 200-day simple moving average of $119.47. The firm has a market capitalization of $5.96 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear has a one year low of $101.67 and a one year high of $147.11.

Lear (NYSE:LEA) last announced its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. Lear’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 EPS. As a group, equities analysts expect that Lear will post 12.49 earnings per share for the current year.

Institutional Trading of Lear

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of Lear by 11,753.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock valued at $116,126,000 after buying an additional 1,008,200 shares during the last quarter. Pzena Investment Management LLC grew its position in Lear by 15.2% in the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lear by 36.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after purchasing an additional 504,091 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Lear by 115.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company’s stock valued at $64,083,000 after purchasing an additional 300,667 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock valued at $314,620,000 after purchasing an additional 238,964 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.